Banking giant Morgan Stanley launched its first exchange traded fund at the beginning of 2023 to expand into retail investments. Interestingly, all six ETFs focused on environmental, social, and governance, or ESG. Under Calvert Research and Management, which Morgan Stanley owns, investors can choose from four index ESG strategies and two active ESG strategies. This article explores one of the six ETFs, the Calvert US Large-Cap Core Responsible Index ETF (CVLC).
What Is CVLC?
CVLC is the pioneer among the six ETF strategies that provide exposure to large companies working on sustainability issues.
What’s the Price And Expense Ratio?
As of this writing, CVLC‘s market price is $50.79, which has not changed much since its inception. The price reached an all-time high of $52.30 in February 2023. An investor will pay 0.15% in expense ratio to own this ETF.
Growth of 10K
There’s a decline in the growth of 10K, which represents the growth of a hypothetical $10,000 investment over time. As of February 28, 2023, it has dropped to $9,942.
Holdings
CVLC is composed of common stocks of the 1,000 largest U.S. companies based on market capitalization. While constructing the portfolio, Calvert evaluated companies based on environmental sustainability and resource efficiency, fair societies and human rights, and accountable governance and transparency.
A majority of 7.27% of the fund is held by Apple Inc. (AAPL), followed by Microsoft (MSFT) at 5.93%. Alphabet Inc. Class A (GOOGL) and Amazon (AMZN) hold 3.31% and 2.68%, respectively. Tesla (TSLA) and JPMorgan (JPM) also have a share in CVLC.
Sector Weight
The IT sector dominates CVLC’s net assets with 30.09%. The healthcare sector and financial sector hold 15.13% and 13.09% of the total net assets, respectively.
For more news, information, and analysis, visit the Responsible Investing Channel.
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